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Trans-Pacific Currency Deal Puts Yellen's Fed in the Spotlight

Emerging markets seek consultations on Fed's next move
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Photographer: Andrew Harrer/Bloomberg
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As part of the Trans-Pacific Partnership deal, emerging markets want to know what Federal Reserve Chair Janet Yellen is thinking.

As a sidebar to the largest trade pact in two decades, the U.S. and 11 other Pacific Rim countries agreed not to manipulate foreign-exchange rates and to consult on monetary policies.